Stocks fall in volatile session, oil sits at $123 and gold at $2,040
Gold surged to $2,040, highest since August 2020
U.S. stocks, in a volatile session, ended lower as investors debated whether President Biden's U.S. ban on Russian oil imports will lower oil prices over the long-term.
RUSSIA INVADES UKRAINE: LIVE UPDATES
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
I:DJI | DOW JONES AVERAGES | 38239.66 | +153.86 | +0.40% |
SP500 | S&P 500 | 5099.96 | +51.54 | +1.02% |
I:COMP | NASDAQ COMPOSITE INDEX | 15927.900321 | +316.14 | +2.03% |
The Nasdaq Composite, which entered a bear market Monday, fell 0.3%, while the S&P 500 slipped 0.7%, and the Dow Jones Industrial Average over 185 points or 0.6%.
Equities swung between losses and gains after Biden's announcement. Sen. Rob Portman, R-Ohio, tells FOX Business the markets briefly weighed whether the announcement signals the U.S. will focus on their own natural resources, even with the ongoing crackdown on pipelines and drilling.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
XLE | ENERGY SELECT SECTOR SPDR ETF | 95.74 | -0.89 | -0.92% |
Oil remained higher but eased to $123.70 per barrel.
ENERGY INDUSTRY SWIPES BACK AT PSAKI 'RED HERRING' COMMENT ON OIL AND GAS LEASES
A gallon of regular gas now costs an average of $4.17 across the country after breaching the $4 barrier on Sunday for the first time since 2008, per AAA.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
USO | UNITED STATES OIL FUND L.P. | 80.36 | -0.08 | -0.10% |
BNO | UNITED STS BRENT OIL FD LP UNIT | 32.73 | +0.04 | +0.12% |
UGA | UNITED STATES GASOLINE FUND LP PARTNERSHIP UNITS | 72.56 | +0.02 | +0.03% |
In related news, Shell Oil confirmed it will withdraw from involvement in all Russian hydrocarbons due to the country's invasion of Ukraine.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
SHEL | SHELL PLC | 73.27 | 0.00 | 0.00% |
WORLD BANK ASSEMBLING $725M EMERGENCY PACKAGE TO UKRAINE
Gold also rose above the $2,040 mark in a flight-to-safety move, now at the highest level since August 2020.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
GLD | SPDR GOLD SHARES TRUST - EUR ACC | 216.61 | +0.69 | +0.32% |
In other stock news, Dick's Sporting Goods reported better than expected profits, earning $3.16 per share, while sale store sales jumped 5.9%, also exceeding estimates.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
DKS | DICK'S SPORTING GOODS INC. | 207.12 | +2.91 | +1.43% |
Apple ended lower after rolling out more 5G connectivity to its cheaper iPhone SE while the iPad Air got upgraded with faster chips.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
AAPL | APPLE INC. | 169.30 | -0.59 | -0.35% |
In deal news, Google LLC is buying Mandiant, a "leader in dynamic cyber defense and response," in a deal valued at $5.4 billion or $23 per share. "The acquisition of Mandiant will complement Google Cloud’s existing strengths in security," Google noted in the announcement.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
GOOGL | ALPHABET INC. | 171.95 | +15.95 | +10.22% |
MNDT | n.a. | n.a. | n.a. | n.a. |
U.S. companies continued to distance themselves from Russia on Tuesday, as McDonald's, Pepsi, Starbucks and Amazon joined the movement, along with dating app Bumble.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
MCD | MCDONALD'S CORP. | 273.11 | -2.46 | -0.89% |
PEP | PEPSICO INC. | 175.58 | -1.10 | -0.62% |
SBUX | STARBUCKS CORP. | 88.25 | +0.41 | +0.47% |
AMZN | AMAZON.COM INC. | 179.62 | +5.95 | +3.43% |
BMBL | BUMBLE INC. | 10.49 | -0.06 | -0.57% |
In cryptocurrencies, Bitcoin hovered around $38,000.
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The Associated Press contributed to this report.